What the data says
Myoko is the value alternative among Japan's big ski areas, and the official data shows why. Over five years its prices have gone nowhere: across the whole of Myoko City the median recorded sale was ¥5.0m in 2018–2020 and ¥4.5m in 2023–2025 (−10%), while Hakuba's rose 186% and the Niseko area's 38% over the same windows (buyer survey only; see the comparison below). The city-wide figures, however, are dominated by downtown Arai (新井), the town centre well north of the ski areas, so this page leads with the ski side: sales whose nearest station is Myoko-Kogen (妙高高原), which covers Akakura, Sekikawa (Ikenotaira), Suginosawa, Taguchi and Futamata. There, MLIT's buyer survey recorded just 139 land and house sales in 2015–2025, 7 to 25 a year, so we show five-year ranges rather than a yearly trend. Land is cheap: the 2021–2025 median land-only sale was ¥1.65m, about ¥2,400/㎡, against roughly ¥10,000/㎡ in Hakuba and ¥24,000/㎡ in the Niseko area. Houses are where the ski side is starting to move: the median house sold for ¥5.0m in 2018–2020 and ¥9.6m in 2023–2025, though only 17 and 18 sales sit behind those figures. Official land values point the same way. Across the city the benchmark points fell by a median 12–13% over five years, but the resort points rose: Akakura (赤倉, commercial) had the largest rise of any Official Land Price (公示地価) point in Niigata in 2026 (+7.1%, to ¥19,700/㎡), and Sekikawa near Ikenotaira (関川, residential) the largest residential rise in Niigata's 2026 Prefectural Land Price Survey (基準地価), +18.5% to ¥7,700/㎡. Unlike Niseko, Hakuba or Furano, Myoko also has a handful of resale resort condominiums in the brokers' closed-price data (成約価格), shown separately below.
Few sales, so no yearly trend. MLIT recorded 73 land and house sales here in 2021–2025 (by year from 2016: 2016: 16, 2017: 9, 2018: 10, 2019: 7, 2020: 13, 2021: 12, 2022: 13, 2023: 9, 2024: 14, 2025: 25). A median of a handful of sales jumps around with whatever happened to sell, so instead of a yearly chart we show five-year medians and the middle half of prices (25th to 75th percentile). Buyer survey (取引価格・アンケート) only.
Prices over five years: medians and ranges
Land-only plots and houses (building with land), buyer survey (取引価格・アンケート) only. ¥/㎡ is per ㎡ of land for both. The “middle half” is the range between the 25th and 75th percentile of sale prices, left out when there are fewer than 4 sales.
| Period | Type | Sales | Median price | Median ¥/㎡ of land |
|---|---|---|---|---|
| 2021–2025 | Land only | 40 | ¥1.65m ≈ US$10,470 middle half ¥990,000–¥3.90m | ¥2,406 ¥1,100–¥6,070 |
| 2021–2025 | House / building with land | 33 | ¥6.70m ≈ US$42,515 middle half ¥4.70m–¥15.0m | ¥11,304 ¥6,485–¥20,426 |
| 2016–2020 | Land only | 22 | ¥1.25m ≈ US$7,932 middle half ¥462,500–¥2.77m | ¥2,000 ¥1,143–¥4,545 |
| 2016–2020 | House / building with land | 33 | ¥4.50m ≈ US$28,555 middle half ¥1.20m–¥7.80m | ¥6,935 ¥2,657–¥12,445 |
Five-year change, three years at a time
Median of all land and house sales in 2018–2020 and 2023–2025, buyer survey only. Three-year windows smooth out single-year noise; the change is shown only when both windows have 20+ sales. The house column is shown for context; with fewer than 10 sales in a window it carries no percentage.
| Area | Median sale 2018–2020 | Median sale 2023–2025 | Change | Houses only |
|---|---|---|---|---|
| Ski side (nearest station Myoko-Kogen) | ¥4.00m n=30 | ¥3.65m n=48 | -9% | ¥5.00m → ¥9.60m n=17→18, +92% |
| Myoko City, whole (mostly downtown Arai) | ¥5.00m n=184 | ¥4.50m n=181 | -10% | ¥7.00m → ¥7.70m n=67→86, +10% |
| Hakuba, for comparison | ¥4.90m n=186 | ¥14.0m n=169 | +186% | ¥10.0m → ¥35.0m n=66→65, +250% |
| Niseko area, for comparison | ¥13.0m n=311 | ¥18.0m n=207 | +38% | ¥40.0m → ¥35.0m n=137→75, -12% |
By district
Districts with at least 10 recorded land and house sales in 2015–2025, largest first. ¥/㎡ is per ㎡ of land. “Change” compares the median ¥/㎡ of 2015–2017 with 2023–2025, shown only when both periods have 10+ sales; it mixes land and houses, so read it as a rough direction. Buyer survey (取引価格・アンケート) only.
| District | Sales 2015–25 | Median ¥/㎡ 2015–25 | Median ¥/㎡ 2023–2025 | Change |
|---|---|---|---|---|
| Sekikawa (incl. Ikenotaira) 大字関川 | 30 | ¥7,018 | ¥10,571 n=11 | — |
| Taguchi 大字田口 | 30 | ¥8,636 | ¥5,330 n=10 | — |
| Futamata 大字二俣 | 26 | ¥5,000 | ¥1,610 n=9 | — |
| Suginosawa 大字杉野沢 | 19 | ¥2,324 | ¥5,000 n=6 | — |
| Akakura 大字赤倉 | 11 | ¥13,462 | ¥22,864 n=3 | — |
Resort condominiums: closed prices (成約価格), kept separate
MLIT's brokers' closed prices (成約価格) record 9 resale condominium sales on Myoko's ski side in 2021–2025, all in 大字田切 (9) (Tagiri, the resort-condo cluster below the slopes). They were 30–45 ㎡ units that sold for ¥1.40m to ¥6.80m; the median sale was ¥2.10m (≈ US$13,326), about ¥66,667/㎡ of floor area. These come from a different data set from every other figure on this page and are never combined with it. Niseko, Hakuba, Furano, Rusutsu and Nozawa Onsen have no condominium sales in either data set.
For context: Myoko City, whole (mostly downtown Arai), by year
The whole of 妙高市, buyer survey only. Most of these sales are in and around the town centre, not on the ski side, so read this as the local baseline rather than the resort market.
Table view: Myoko City, whole (mostly downtown Arai), 2015–2025
| Year | Sales (land + houses) | Median sale | Land ¥/㎡ | Median house |
|---|---|---|---|---|
| 2015 | 59 | ¥3.30m | ¥12,500 n=32 | ¥5.00m n=27 |
| 2016 | 59 | ¥4.00m | ¥8,485 n=35 | ¥5.85m n=24 |
| 2017 | 54 | ¥5.75m | ¥8,824 n=32 | ¥8.75m n=22 |
| 2018 | 68 | ¥5.00m | ¥13,889 n=45 | ¥6.70m n=23 |
| 2019 | 52 | ¥4.50m | ¥8,485 n=34 | ¥9.25m n=18 |
| 2020 | 64 | ¥4.90m | ¥9,111 n=38 | ¥8.40m n=26 |
| 2021 | 97 | ¥2.30m | ¥3,357 n=61 | ¥5.50m n=36 |
| 2022 | 66 | ¥5.40m | ¥9,297 n=38 | ¥12.0m n=28 |
| 2023 | 57 | ¥5.00m | ¥15,789 n=26 | ¥4.30m n=31 |
| 2024 | 50 | ¥4.50m | ¥5,811 n=28 | ¥11.0m n=22 |
| 2025 | 74 | ¥4.15m | ¥8,346 n=41 | ¥9.40m n=33 |
Official land prices on the ski side
Japan's two official land-price surveys value fixed sample points every year: the Official Land Price (公示地価, as of 1 January) and the Prefectural Land Price Survey (基準地価, as of 1 July). They are appraisals of the land alone, as if vacant, not sale prices, and land right on the slopes usually sells for more. The two surveys are six months apart and are not averaged together.
Only the points near Myoko-Kogen station are listed. Myoko City has 21 points in all; the rest are in downtown Arai and around Sekiyama and fell 11–17% over five years. There is no point in Suginosawa. Note that the 公示地価 point “関川町1丁目” (¥20,600/㎡) is in downtown Arai, not in Sekikawa on the ski side.
| Point | Survey | Use | ¥/㎡ | 1 yr | 5 yr |
|---|---|---|---|---|---|
| Akakura Onsen 妙高5-3 · 妙高市大字赤倉字南469番14外 Largest rise of any 公示地価 point in Niigata, 2026 | 公示地価, 1 Jan 2026 | Commercial | ¥19,700 US$125 | +7.1% | +7.7% |
| Taguchi, 800 m from Myoko-Kogen station 妙高-4 · 妙高市大字田口字西原888番4 | 公示地価, 1 Jan 2026 | Residential | ¥10,700 US$68 | +0.0% | — |
| Taguchi, Myoko-Kogen station front 妙高5-2 · 妙高市大字田口字南288番2 | 基準地価, 1 Jul 2026 | Commercial | ¥14,700 US$93 | +0.7% | -9.3% |
| Sekikawa, near Ikenotaira Onsen (location estimated) 妙高-8 · 妙高市大字関川字山柘谷内2275番87外 Largest residential rise in Niigata's 2026 基準地価; surveyed since 2023 (+44.7% over 3 years) | 基準地価, 1 Jul 2026 | Residential | ¥7,700 US$49 | +18.5% | — |
| Futamata, between Akakura and Shin-Akakura (location estimated) 妙高-7 · 妙高市大字二俣字郷田切1526番351 | 基準地価, 1 Jul 2026 | Residential | ¥2,800 US$18 | +9.8% | +12.0% |
- Myoko 妙高市: 公示地価 median ¥20,600 (n=9; 5-yr median change -12.7%); 基準地価 median ¥9,875 (n=12; 5-yr median change -12.4%).
Processed from MLIT National Land Numerical Information (Land Price Publication L01 / Prefectural Land Price Survey L02), CC BY 4.0: 「国土数値情報（地価公示データ）」（国土交通省）（https://nlftp.mlit.go.jp/ksj/gml/datalist/KsjTmplt-L01-2026.html）を加工して作成／「国土数値情報（都道府県地価調査データ）」（国土交通省）（https://nlftp.mlit.go.jp/ksj/gml/datalist/KsjTmplt-L02-2026.html）を加工して作成. Point selection, English place names and medians are ours. “—” = no five-year history. USD at ECB 2026-09-25. Land prices in other resort towns →
Compared with other ski areas
The same measures for each ski area, all from MLIT's buyer survey (取引価格・アンケート), so the rows are comparable with each other. “5-year change” compares the median of all land and house sales in 2018–2020 with 2023–2025 (three years each, to smooth out single-year noise), and is shown only when both windows have 20+ sales. Typical prices are 2021–2025 medians. Official land price change is the median five-year change of the benchmark points (公示地価 1 Jan 2026 / 基準地価 1 Jul 2026), which are appraisals, not sales.
| Area | Sales 2021–2025 | 5-year change, median sale | Land plot, median 2021–2025 | House, median 2021–2025 | Official land price, 5 yr |
|---|---|---|---|---|---|
| Niseko area Kutchan + Niseko Town | 333 | +38% ¥13.0m → ¥18.0m · n=311→207 | ¥9.05m ¥23,810/㎡ · n=196 | ¥30.0m n=137 | Kutchan: 公示 +37% · 基準地 +52%; Niseko Town: 基準地 +67% |
| Hakuba Hakuba Village | 288 | +186% ¥4.90m → ¥14.0m · n=186→169 | ¥6.15m ¥10,128/㎡ · n=178 | ¥23.0m n=110 | 公示 +162% · 基準地 +67% |
| Furano area Furano + Kamifurano + Nakafurano | 405 | +16% ¥5.00m → ¥5.80m · n=239→247 | ¥3.70m ¥11,304/㎡ · n=167 | ¥7.75m n=238 | Furano City: 公示 +2% · 基準地 +14% |
| Myoko, ski side nearest station Myoko-Kogen | 73 | -9% ¥4.00m → ¥3.65m · n=30→48 | ¥1.65m ¥2,406/㎡ · n=40 | ¥6.70m n=33 | resort points: Akakura +7.7% (公示); Futamata +12.0% (基準地); Sekikawa +44.7% over 3 yrs (基準地) |
| Myoko City, whole mostly downtown Arai | 344 | -10% ¥5.00m → ¥4.50m · n=184→181 | ¥3.20m ¥7,105/㎡ · n=194 | ¥7.00m n=150 | 公示 -13% · 基準地 -12% |
| Rusutsu Rusutsu Village | 13 | too few sales (13→9) | ¥1.70m ¥4,679/㎡ · n=6 | ¥5.50m n=7 | 基準地 +53% |
| Nozawa Onsen Nozawa Onsen Village | 45 | +35% ¥4.00m → ¥5.40m · n=23→30 | ¥2.40m ¥13,056/㎡ · n=24 | ¥5.50m n=21 | 公示 +70% · 基準地 +106% |
In your currency
Converted at ECB reference rates of 2026-09-25: ¥157.59 = 1 USD, ¥110.79 = 1 AUD, ¥20.09 = 1 HKD, ¥123.39 = 1 SGD. TWD, which the ECB does not publish, at the U.S. Federal Reserve H.10 rate of 2026-09-18 (via FRED): ¥4.93 = 1 TWD. The same rate is applied to every figure, so these are today's-money conversions of yen prices, not what was paid at the time. Your bank's rate and fees will differ. Buyer survey (取引価格・アンケート).
| JPY | USD | AUD | HKD | SGD | TWD | |
|---|---|---|---|---|---|---|
| Median land plot, 2021–2025 | ¥1,650,000 | US$10,470 | A$14,893 | HK$82,128 | S$13,372 | NT$335,000 |
| Median house, 2021–2025 | ¥6,700,000 | US$42,515 | A$60,475 | HK$333,000 | S$54,297 | NT$1.36m |
| Median land ¥/㎡, 2021–2025 | ¥2,406 | US$15 | A$22 | HK$120 | S$19 | NT$488 |
Read this before relying on the numbers
- “Ski side” = nearest station Myoko-Kogen. MLIT records each sale's nearest station; we keep only sales listed under Myoko-Kogen (妙高高原). Sales around Seki Onsen and Sekiyama list Sekiyama station and are not included. The city-wide figures include them, and downtown Arai.
- Few sales. 7 to 25 land and house sales a year on the ski side. That is why the main figures are five-year medians with the middle half of prices, not yearly medians; one or two unusual deals still move them.
- No condominiums in the buyer survey. The buyer survey (取引価格・アンケート) has no condo sales here. The few resale resort condos appear only in brokers' closed prices (成約価格) and are shown in their own box, never mixed with the survey figures.
- Hotels, lodges and ryokan can't be separated. The data has no hotel/ryokan category; any such sales are mixed into “house / building with land” or land.
- Buyer survey for land and houses. Every land and house figure on this page comes from MLIT's buyer survey (取引価格・アンケート). Brokers' closed prices (成約価格, from 2021) contain no land or house sales here, only the 9 resale condominiums shown in their own box.
Methodology
- Data: the buyer-survey transaction prices (不動産取引価格情報), 2015Q1–2025Q4, for Myoko Kogen (ski side of Myoko: sales whose nearest station is Myoko-Kogen) (妙高高原（妙高市のうち最寄駅が妙高高原の取引）; municipality code 15217), from the MLIT Real Estate Information Library, selected by MLIT's price-type field (価格情報区分). Fetched 2026-09-29.
- Area: sales in 妙高市 whose nearest station (最寄駅) is recorded as 妙高高原 only.
- Five-year ranges: median and 25th/75th percentile of all land-only and house sales in each five-year window. Sales flagged by MLIT as between related parties, court auctions or purchases of adjoining land are excluded; so are farmland and forest.
- Five-year change: median sale in 2018–2020 vs 2023–2025, shown only when both windows have 20+ sales.
- ¥/㎡: price divided by recorded land area. Plots recorded only as “2,000㎡ or more” count in price medians but not in ¥/㎡.
- Coverage: the survey is not every sale, and prices and areas are rounded.
Can you get a mortgage to buy in Myoko? It depends on your residency status: permanent residents borrow like Japanese nationals, a few banks lend to foreigners living in Japan on a visa, and buyers living abroad have only a handful of options (mostly for Taiwan and Hong Kong), usually with 30–50% down. See Japanese mortgages for foreigners: lenders by residency status (updated monthly), or estimate the monthly repayment: permanent resident · living in Japan, no PR · living abroad. We are not a lender and receive no fees from banks.
Source: MLIT Real Estate Information Library (processed by Japan House Prices). https://www.reinfolib.mlit.go.jp/ — 出典：国土交通省 不動産情報ライブラリ（https://www.reinfolib.mlit.go.jp/）のデータを加工して作成. Original content: Transaction prices (不動産取引価格情報) and contract prices (成約価格情報). We filtered, grouped and took medians of the published records; the resulting figures are our own and are not published or endorsed by MLIT (国土交通省).
Exchange rates: ECB euro foreign exchange reference rates of 2026-09-25; TWD (not published by the ECB): U.S. Federal Reserve H.10 rate via FRED, 2026-09-18. Past transaction prices do not predict future prices; this page is not a valuation, an offer of property, or investment advice. Last reviewed 2026-09.
Local agents in this area (not affiliated)
- Resort Property Japan: Akakura, Myoko: sales and management
- Myoko Akakura House (妙高赤倉ハウス): Akakura, Myoko: property management
- Hakuba Real Estate: Hakuba and Myoko
Names taken from the companies' own public websites, so you can see who is active locally. We have no agreement with any of them, this is not a recommendation, and we have not checked their licences on MLIT's register. Contact them directly, or use the form below.
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More price pages
Niseko property prices · Hakuba property prices · Furano property prices · Rusutsu property prices · Nozawa Onsen property prices · Central Tokyo apartment prices · Chiyoda apartment prices · Chuo apartment prices · Minato apartment prices · Shinjuku apartment prices · Shibuya apartment prices · Kyoto property prices · Tokyo price per square metre, by ward · Tokyo condo prices — monthly tracker
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